News Now

Washington

NCUA announces annual reg review focus

ALEXANDRIA, Va. (1/24/13)--The National Credit Union Administration has released its annual list of rules and regulations that will come under review this year. Among them: member business loans, fair credit reporting, management official interlocks, and Central Liquidity Facility rules.

Included on the full 2013 review list:

711 Management Official Interlocks;

712 Credit Union Service Organizations;

713 Fidelity Bond and Insurance Coverage for Federal Credit Unions;

714 Leasing;

715 Supervisory Committee Audits and Verifications;

716 Privacy of Consumer Financial Information;

717 Fair Credit Reporting;

721 Incidental Powers;

722 Appraisals;

723 Member Business Loans;

724 Trustees and Custodians of Certain Tax-Advantaged Savings Plans;

725 National Credit Union Administration Central Liquidity Facility;

740 Accuracy of Advertising and Notice of Insured Status;

741 Requirements for Insurance;

745 Share Insurance and Appendix; and

747 Administrative Actions, Adjudicative Hearings, Rules of Practice

and Procedure, and Investigations.

The NCUA reviews all of its rules every three years, scheduling a look at about one-third of its rules each year on a rotating basis. The agency says its goal is to ensure that all regulations are clearly articulated and easily understood, a goal that the Credit Union National Associatoin endorses.

Comments on the clarity and content of the regulations are encouraged, the agency added. The NCUA will accept comments on these items until Aug.5. CUNA Regulatory Advocacy will be working with CUNA subcommittees, leagues, and the CUNA Councils to review the rules and file comments with the agency.

Comments may be e-mailed to OGCMAIL@NCUA.GOV or mailed to Regulatory Review 2013, Office of General Counsel, National Credit Union Administration, 1775 Duke Street, Alexandria, Virginia 22314-3428. Please include the words "Regulatory Review 2013" in the subject line.